INSURING YOUR JEWELLERY

Should you insure your new diamond ring or jewellery?

Jewellery insurance is a standalone insurance product which protects your new jewellery from most risks including theft, loss and accidental damage. It provides peace of mind and can be invaluable. Pravins have partnered with a specialist insurance company, T H March, to provide our clients with access to their insurance services. Please note that these policies are only available to United Kingdom residents. There are two options, based on the value of the items you wish to insure.

The Emarchguard Scheme

For jewellery with a retail value of up to £7,500 we can offer instance cover via the Emarchguard scheme. This is a simple policy which can be arranged in-store at the time of purchase or else within fourteen days of purchase. There is a thirty day cooling off-period if you change your mind. The £7500 limit applies to a single item or the total value of a group of items.

Key benefits of Emarchguard

• Emarchguard policies are arranged in-store by Pravins; they are standalone and do not require a household insurance policy.

• Cover is provided instantly and with one simple payment.

• There are two term options – one year and three years.

• There is a 30-day cooling-off period during which policies can be cancelled with full refund. After this period, pro-rata refunds are available.

• Policies cover all risks including loss, theft and accidental damage. Please note that loose gemstones cannot be insured and insured items cannot be left in unattended vehicles.

• Claims can be handled by Pravins via a simple claim form. There is no policy excess or no loss adjustment process and all claims are passed back to Pravins for replacement.

Things to note about Emarchguard

• Cover must not exceed £7,500 for any single item of jewellery and £7,500 in total.

• Regardless of the selling price, the insurance cover must be for the full replacement value.

• Pravins must have supplied the item(s) and the transaction must take place in the shop with the client and the item(s) to be insured present. If you wish to go away and think about it, you have up to fourteen days after purchase to arrange insurance, but again the transaction must take place in the shop with the item(s) to be insured present.

• These policies are not renewable. Upon expiry, T H March will contact you to see if you wish to purchase a new insurance product.

The Introducer Scheme

For jewellery over £7,500 and £25,000, we would introduce you to TH March Insurance.

Key benefits of this scheme

• Insurance policies are arranged directly between yourself and TH March; they are standalone and do not require a household insurance policy.

• Cover is provided instantly and with one simple payment.

• You can insure jewellery purchased from anywhere and at any time.

• There is a 30-day cooling-off period during which policies can be cancelled with full refund. After this period, pro-rata refunds are available.

• Policies cover all risks including loss, theft and accidental damage. Certain exclusions apply, the main ones being (a) loose gemstones cannot be insured and (b) items cannot be left in unattended vehicles.

• Claims can be handled by Pravins via a simple claim form. There is no policy excess or no loss adjustment process, all claims are paid in full. There is no policy excess or no loss adjustment process and all claims are passed back to Pravins for replacement.

If you have any queries about insuring or looking after your jewellery please do not hesitate to speak to our store teams or email us at admin@pravins.co.uk.